LOVE - Lovesac Stock Got Robbed on Wednesday
It was a textbook blowout performance by Lovesac (NASDAQ: LOVE) on Wednesday morning. The company behind premium beanbag chairs and even pricier modular sectionals came through with flying colors in its fiscal fourth quarter. It wasn't enough.
Lovesac shares were trading 6% higher in premarket trading ahead of Wednesday's opening bell. It opened 3% higher, but that, too, proved fleeting on a volatile trading day that history will remember more as the day a crypto marketplace went public than the day Lovesac's stock chart defied its ascending fundamentals. Lovesac shares closed 5% lower on the day it posted monster financial results.
Image source: Lovesac.
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Lovesac Stock Got Robbed on Wednesday